We all know how hard life can be as a single parent. Finances can be tight, and the challenges you are faced with can be very stressful. College is one great way to improve your lifestyle, as it increases potential for a higher paying career. But, for many single parents, college isn’t an option just because they cannot afford it. Many students find it hard financing college, for single parents this can be much harder. That’s where grants come in. Grants are a fantastic way of securing educational funding – and the Federal Pell Grant can offer just that. This grant is the best way to get financial aid for single parents.
The Federal Pell Grant is a fantastic way of financing college for single parents. Considered a foundation of the Federal financial aid, Pell Grants are unlike student loans, because the money given isn’t required to be repaid. But, there are other advantages, compared with other Grants available. The Pell Grant is a “needs” based financial aid program, run by the U.S Government. This makes it perfect for single parents. By “needs”, the Grant program refers to be individuals who meet specific criteria – specifically being if they have a low income status.
Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor’s or a professional degree. Below are the basic requirements on the Federal Pell Grant:
l You must have a high school Diploma or equivalent (i.e GED)
l You must be a U.S. Citizen
l You must be an undergraduate
l You must not have a Bachelor’s degrees’ in any subject
The Federal Pell Grant institution will calculate your eligibility based on the information you provide them. You are then given a EFC Number, which stands for Expected Family Contribution Number.
In the year 2009 – 2010, the maximum Pell Grant award is $5,350 – and changes every year. The amount you receive is determined by your costs to attend education, your status and your educational plans. For example, if your status is Part Time Student, you won’t be rewarded the same amount as a Full Time Student.
To apply for a Federal Pell Grant, you must speak with the financial aid officer at the college(s) you ish to attend. Only the schools you wish to attend can apply for Pell Grants. The money will be paid to you direct by check – and the school will tell you how much you are entitled to, and when you’ll be paid. Payments are carried out once per term.
Financial aid for single parents can be made easy with the help of a Federal Pell Grant. The Government in recent years have issued over $100 billion to over 10 million students. However, if you are unable to obtain a Federal Pell Grant, there are still several different Federal and non-federal Grant and scholarship programs available. It is advised to apply for as many as you can, as not all will accept your application.
